Mangalore Chemicals & Fertilizers reports standalone net profit of Rs 4.69 crore in the March 2017 quarter
Mangalore Chemicals and Fertilisers Ltd (MCFL) today reported a net profit of Rs 4.68 crore for the quarter ended March 2017.
It had posted a net loss of Rs 5.11 crore in the year ago period, the company said in a regulatory filing.
Income from operations fell to Rs 545.45 crore in the fourth quarter of 2016-17 from Rs 807.44 crore in the corresponding period of the previous year.
During the full 2016-17 fiscal, the company posted a net profit of Rs 19.41 crore against a net loss of Rs 240.12 crore in 2015-16.
Income from operations fell to Rs 2,502.14 crore last fiscal from Rs 2,982.07 crore in 2015-16.
The board also recommended a dividend of Re 0.50 per equity share of Rs 10 each for the financial year ended March 31, 2017.
The Zuari-group controlled MCFL has a urea plant near Mangalore port with an annual capacity of about four lakh tonnes three lakh tonnes of phosphatic fertilisers.
Saroj Poddar-led Zuari group has 53 per cent stake in the company, while Vijay Mallya's UB group has 22 per cent shareholding.
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